In an increasingly competitive, collaborative, and integrated business space it has become essential for companies to stay abreast and aligned with the factors that drive and impact their respective industries. Leveraging Cloud technology is one of the latest developments that firms are using today to expand their business by providing better services to a more diverse client base. Many firms have already began to adopt Cloud technology and have enjoyed benefits such as improved disaster recovery, ease of document migration, ease of access of files, and business scalability due to increased flexibility.
Here we present an overview of a webinar sponsored by Wolters Kluwer and hosted by Accounting Today, titled, “Unlocking the Secret to Firm Growth through Technology and the Cloud.” This webinar was delivered on August 20th 2015 by Sandra Wiley, COO and Shareholder of Boomer Consulting Inc.; Jake Jacobs, CPA and Shareholder of McDonald Jacobs PC; and Mark Ryburn, CPA, CITP, CDIA+, and Product Line Manager (Tax Workflow) of Wolters Kluwer Tax and Accounting US.
In this webinar they discuss:
- How technology can dramatically impact firm growth;
- Technology needs from a client perspective;
- How firm attitude towards technology impacts staff attitude towards the firm; and
- Practical insights for how Cloud technology may be successfully implemented.
Know Your Numbers
One of the main areas in which technology can help in the quest to grow a firm is the ability to “know your numbers.” Numbers in this case refer to data such as firm data, SAP data, client data, etc. Unless you know your numbers, it is difficult to know where you should grow and how you should grow. A Cloud-based solution has a link back to knowing the numbers that will help in setting your firm up for merger and acquisition opportunities or to inform management about the areas they should be concentrating on for organic growth.
Caring for Clients
Utilizing Cloud technology has the potential to provide greater opportunities to improve client relations. It can help address the question: “What do clients today want and how can technology help in the delivery?”
Clients want security. Cloud technology can assist in securely handling confidential information. With the move to electronic data, the responsibilities of firms has increased as data can now be inappropriately accessed if security is not handled correctly. Certain types of Cloud storage can offer far more comprehensive security than what can be achieved with on-premise solutions.
In addition to protecting data, caring for clients also involves providing efficient and cost-effective services.
Companies can leverage Cloud technology to better serve clients by providing:
- Mobile Access—Almost everyone possesses a mobile phone. Cloud technology allows firms to give clients instant access to files anywhere via mobile technology.
- OCR (Optical Character Recognition)—This can be used to decrease the time doing data entry, leaving more time for professional staff to interact with clients and add value to the process.
- Electronic Signatures—Clients can approve secure documents by inserting their electronic signature, thereby resulting in a more efficient and convenient process.
Developing an Internal Team
Utilizing Cloud technology for remote access can help to greatly motivate staff. Utilizing the Cloud affords staff members the opportunity to efficiently work from home if needed. Companies also have greater amount of flexibility, for example, in situations where bad weather makes commute to the office difficult, remote access allows for the firm to be productive despite such events.
Another area in which utilizing the latest technology such as the Cloud can help grow a firm is in hiring unique talent. Though this may not seem obvious at first, potential employees are more attracted to firms that utilize current technology as opposed to firms where the technology used is outdated. This helps gives companies an advantage over competing business.
How Can eFileCabinet Help Grow Your Firm
eFileCabinet understands the importance of Cloud technology in relation to firm growth and offers a number of Cloud-based solutions to help achieve this.
Firstly, eFileCabinet online provides a central location in the Cloud to store, manage, and share all company documents. Documents may be accessed from any location in the world where internet access is available.
eFileCabinet’s SecureDrawer is a tool available to online users to securely share confident documents with clients. All documents stored on eFileCabinet servers are heavily encrypted and stored on secure SAS-70 Type II data centers files with a variety of physical barriers and intrusion detection systems to prevent unauthorized access.
Additionally, recognizing the role of mobile devices in today’s rapidly changing market, eFileCabinet also provides access to documents on the Cloud via mobile access. The mobile app allows users to access anything stored in their eFileCabinet account from anywhere in the world. Other notable features include the ability to take pictures with the mobile camera and upload them directly to eFileCabinet, convert image files to PDF, and the ability to email files directly from a user account.
Interested in harvesting the power of the Cloud to grow your firm and unlock numerous possibilities? Fill out the form provided for a free 15-minute demo.